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China s rare earth demand by 2020 material growth of 50%
Time:2017-09-20

Shanghai, the next five years, China's rare earth demand may surge more than 50%, to the authorities to bring the pressure to relax the harsh production quotas. Strict production quota restrictions lead to illegal mining and smuggling activities rampant.

China's Rare Earth Industry Association Deputy Secretary-General Chen Zhanheng pointed out at a meeting in Shanghai that domestic demand is expected to grow by nearly 9% to 97,700 tonnes this year and close to 150,000 tonnes by the end of 2020, up 50% from 90,000 tonnes in 2014.

It is expected that at least 30,000 tons of rare earth will be exported through official channels this year, and 105,000 tons of production capacity is unlikely to meet aggregate demand, implying that illegal producers will still be encouraged to produce.

"It is not easy to shut down all illegal mines, their production costs are low, the mines are scattered, and even some local governments are protecting illegal mines," he said.

Industry estimates show that China's rare earth production accounts for not only about 90% of global supply, consumption is also about 80%, and demand is still growing.